Peterson Wealth Management Buys 4,087 Shares of The Home Depot, Inc. (NYSE:HD)

Peterson Wealth Management grew its stake in The Home Depot, Inc. (NYSE:HD) by 89.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,652 shares of the home improvement retailer’s stock after purchasing an additional 4,087 shares during the period. Home Depot makes up about 1.8% of Peterson Wealth Management’s portfolio, making the stock its 22nd biggest position. Peterson Wealth Management’s holdings in Home Depot were worth $2,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Capital Research Global Investors lifted its stake in shares of Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after acquiring an additional 992,444 shares during the last quarter. Norges Bank purchased a new position in Home Depot during the 4th quarter worth $4,311,070,000. Fisher Asset Management LLC increased its holdings in Home Depot by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock worth $3,046,485,000 after purchasing an additional 184,480 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after purchasing an additional 971,833 shares during the period. Finally, Jennison Associates LLC increased its holdings in Home Depot by 13.1% during the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after purchasing an additional 569,690 shares during the period. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of HD opened at $361.85 on Friday. The stock has a 50-day moving average of $356.96 and a two-hundred day moving average of $354.11. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock has a market cap of $358.82 billion, a P/E ratio of 24.27, a P/E/G ratio of 2.55 and a beta of 0.98.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.65 EPS. As a group, research analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be issued a $2.25 dividend. The ex-dividend date is Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.49%. Home Depot’s payout ratio is 60.36%.

Analysts Set New Price Targets

Several research firms have commented on HD. Truist Financial reduced their price objective on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Royal Bank of Canada reduced their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. Stifel Nicolaus cut their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Finally, UBS Group lifted their price target on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.79.

Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.